Starting a trading or manufacturing business in the UK will proceed seamlessly only if you understand hm customs and excise duties and make all your payments on time Vatvalidation-com/vat/. Most duties and taxes in Britain are managed by hm revenue and customs or hmrc, which has been established in 2005 after the merger of hm customs department with the revenue department.
In case your business involves importing services or goods from member eu states that have embraced vat there are certain vat rules that need to be followed not only in the country of origin but also in Britain 
. If you want to go for vat refund for vat already paid within the original country or if you want to enjoy all other advantages offered by vat then you’ll need to turn into a vat registered trader. In the UK this can be achieved once you touch the vat threshold figure of £70,000 in taxable sales.
When you import services or goods into the UK then you’ll also need to pay for the appropriate customs duties according to the nature of the goods. If you plan to import alcohol or tobacco products then you will need to pay excise duty to the hm customs and excise department. There are 14,000 classifications furnished by the hmrc vat department and customs, excise, import vat and sales vat duties would depend on this classification.
In case you have already paid vat on goods or services in another country before importing it to the UK then after paying all your duties, you are able to still claim the vat paid inside the other country by furnishing all the required details. In order to successfully get a vat reclaim, understanding of uk vat and eu vat rules is essential. Whilst you can easily get all the required knowledge from the hm customs and excise website you possibly can still utilize the services of an experienced customs duty and vat agent. Such an agent may help pay your customs and excise duties while also preparing your vat returns within the stipulated time. An agent with offices in other countries would be ideal since you could also go in for vat refunds in countries where you might have already paid vat.
Once you pay your duties and find a way to reclaim vat successfully, you’ll be able to accomplish ideal costs for your services and products, thus enhancing the efficiency of your business. In times of competition avoiding double taxation will be a huge asset while paying your customs and excise duties dutifully could keep you on the appropriate side of the law. Anyway, the money which you pay as import duties and vat is used by the excise and customs department for public services. With technology close at hand, now you can pay much of your taxes including vat online by registering your business at the hmrc website.
Customs and excise duties along with variety of vat forms an essential revenue stream to the government of the UK. In case you have started a business in the UK or have a manufacturing plant that has to import capital goods or spares from other countries including eu countries then you’ll need to read about hm customs and excise duties so as to quickly pay the correct amount of applicable duties on your imports.